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RBI seeks more powers against NPAs

DNMUM416133 | 6/14/2018 | Author : Edit | WC :215 | Opinion & Viewpoint


Reserve Bank of India (RBI)’s request to the government to withdraw its nominees from bank Boards stems from growing concerns over “conflict of interests”. It assumes importance at a time when banks are reeling under huge pile-up of bad loans and increasing number of frauds. The central bank nominates a director -- either a serving or a retired executive -- to each bank generally, and more than one member when the banks are in trouble.
While former RBI governor Raghuram Rajan proposed a similar move during his tenure, a committee headed by PJ Nayak in 2014 was not in favour of such a move. The main role of any director on the Board is to ensure that the bank is efficiently and professionally managed, and that the proposal coming
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